Tag: retirement worries

In 2012 HUD began fine tuning its HECM (Home Equity Conversion Mortgage) program to make it more senior friendly. At that time they instituted the requirement that you complete mandatory HECM counseling seven days prior to starting any paperwork for a Reverse Mortgage. What is HECM counseling? Mandatory HECM counseling provides seniors with the necessary…

The New Reverse Mortgage isn’t what you think it is. The Reverse Mortgage program was signed into law by President Reagan in 1987. The intent was to provide an instrument for senior homeowners to have a retirement “safety net”. He recognized that the skyrocketing inflation of the early 1980s made it almost impossible for those…

The New Reverse Mortgage can be your Personal Retirement Paycheck When that day finally arrives and you’ve announced your retirement, among the many things that will be different in your life is you’ll no longer be getting a weekly paycheck. And that is going to require some adjustment to the lifestyle to which you have…

I give up ownership of my home with a Reverse Mortgage. Without question is the number one fear of many older homeowners when considering a Reverse Mortgage. I can remember when someone asked my father if he owned his home, he always answered: Yes, me and the bank! With a forward mortgage as long as…

A retirement tool for the 21st century Planning for your retirement is a daunting task for even the best financial planners. Recent studies have shown men have an increasing likelihood to live until age 90 and more women are living until 95. If you take a look back over the last 30 years or so,…

5 ways to a safe and secure retirement – Including one that will save you thousand$ Baby boomers agree having a safe and secure retirement is priority one. But in today’s uncertain economy, achieving that goal is challenging to say the least. Many of us have seen our investments decimated by the recent housing crash…